https://www.nzherald.co.nz/business/...7Y2XQDFDIYFFM/
Chance for New Zealand Investors to claim some of their losses back ?
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https://www.nzherald.co.nz/business/...7Y2XQDFDIYFFM/
Chance for New Zealand Investors to claim some of their losses back ?
Impressive performance by ATM shares today - green in a sea of red.
Looking at the registration process it looks like its only for ASX registered shares. One question was how many shares did you sell between 19th Aug 2020 and 7th May 2021, if more than 10 lots please send documents, wonder if their system could cope with the amount of documents they would get from me. Lol
Looks like you don't have to register to be eligible at this stage, you are automatically eligible but will not be entitled to compensation unless you register once the court case starts. Anyway I have sent an enquiry re the eligibility of NZX holders so let's see. Perhaps a good use for their large unused cash pile has now been found. Lol
I think its good they're being sued. The BBB team all thought their disclosure was egregiously slow. It'll be a good test case for disclosure requirements. ATM's best defense would appear to be our accounting and reporting systems are so pathetic we didn't know any better.
Another defense might be that the nature of our accounting and reporting system was such that they were fundamentally inadequate for the task at hand, (like the Titanic's rudders, inadequate for maneuvering quickly).
As far as corporate legal action goes, this is definitely going to be a VERY interesting case.
The class action filing has definitely thrown the spanner in the works to the sp… would be an interesting day tomorrow…
The ‘class action’, so to speak has been open for some time now, it’s not news. It is an invitation to register interest, it is not guaranteed that there will be a suit. The funder will decide at some stage whether Slater & Gordon have a case and whether ATM has enough money to be worth going after, which obviously they have, notwithstanding company and director insurance.